New construction of build-to-rent (BTR) housing is slowing across the Sunbelt, but that’s not at all the case in Charlotte and the Research Triangle.
The region’s population growth, housing affordability gap and pro-development climate have combined to make the I-85 Corridor one of the most active markets in the nation for build-to-rent housing—particularly single-family homes.
BTR is a relatively new concept in single-family residential development. These homes tend to be built in clusters as rental communities, and are frequently built by corporate developers and private equity investments.
As of mid-2025, more than 4,100 BTR single-family homes were under construction in the Charlotte metro area, placing it second behind Phoenix on the list of strongest build-to-rent markets in the country, according to Berkadia, a national commercial real estate services firm.
The broader Charlotte-Concord-Gastonia area has more than 5,300 such units in development, including more than 2,300 inside Charlotte’s city limits, according to Bottomline Property Management in Charlotte. Developers remain confident for a simple reason: strong demand.
The population of the Charlotte-Concord-Gastonia metro area has grown by nearly 20% since 2010, according to U.S. Census data—driven by a strong job market and people moving from higher-cost metros like New York, Chicago and Los Angeles.
Meanwhile, since 2021, the median sale price of a single-family home in the area is up by about 50%, based on data from Redfin; that’s nearly three times the rate of wage growth over the same period. For many would-be home buyers, BTR communities offer an attractive mix of space, privacy and flexibility.
“The housing type fills a niche for renters as it offers more living space and privacy than typical apartments, but is more affordable and amenitized than for-sale homes,” writes John Nelson in Multifamily & Affordable Housing Business magazine.
Other Sunbelt markets saw rapid growth early in the BTR building binge that began around 2015. Charlotte, by contrast, was late to the party and still has room to grow before becoming saturated, according to Nelson’s article.
Local policies also help. Mecklenburg County and several surrounding municipalities have embraced rezoning and density adjustments that make BTR communities easier to build. Land costs are lower than in most major metros, and North Carolina’s regulatory climate remains among the most developer-friendly in the country.
The Raleigh-Durham-Chapel Hill research triangle is seeing similar dynamics. While combined numbers are more difficult to come by than for Charlotte, the Point2Homes rental search engine notes there are 2,900 BTR units currently under construction in the Raleigh metro area alone. It cites Raleigh’s steady inflow of tech and life-science workers who may not be ready to buy in a competitive market.
Build-to-rent construction tends to move in large phases and standardized product types—offering a degree of predictability rare in traditional single-family building. Many BTR projects include 100 to 300 nearly identical homes, allowing contractors to refine processes, cut cycle times and optimize procurement.
For site and infrastructure contractors, these communities also bring a steady flow of grading, utility and paving work that can stretch across multiple years. Developers like AHV Communities, Crescent Communities and Quinn Residences have all been active in the Carolinas, building projects that include shared amenities such as pools, fitness centers and leasing offices—often mirroring multifamily operations but on suburban land parcels.
The strong BTR environment doesn’t come without caution. If mortgage rates stay elevated and for-sale inventory rises, the affordability gap that fuels the BTR concept could shrink. Some national investors are also slowing new acquisitions after several years of aggressive expansion.
Still, most analysts see continued strength in BTR—led by markets like Charlotte and Raleigh. That compares to flat or declining starts in many traditional multifamily sectors.
With ongoing in-migration, strong rental absorption and available land, the fundamentals point to continued activity through at least 2026. Contractors who’ve been hesitant to engage with this sector may find it’s time to take a closer look—whether through direct bids, partnerships with BTR developers or by aligning supply capabilities with standardized community designs.
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